Bankers lobbying CBRC for secondary loans rule change

Author: | Published: 31 Jan 2012

Syndicated loan market participants in Hong Kong and China are lobbying the China Banking Regulatory Commission (CBRC) to change “onerous” secondary loans trading guidelines.

The Asia Pacific Loan Market Association’s (APLMA) vice chairman and China sub-committee chairman, Wilson Wan, told IFLR the rules had completely stalled the Chinese secondary loan market when issued in December 2010.

“CBRC introduced a number of new unusual requirements, such as the need for prior consensus from the borrower and guarantor and first refusal from the banks in the syndicate,”...